Article By: Sound Accounting & Technology LLC. Dramatic changes in Federal Reserve composition could be made by Trump Administration; or not. Federal Reserve Janet Yellen’s Chair position expires early 2018. However, her spot on the Board doesn’t expire until 2024. She could stay on through the next presidential election and beyond. Others could follow suit, holding their own seats in a move to preserve Federal Reserve independence. One example of checks and balances inherent in the structure of the Federal Reserve. Congress designed the Federal Reserve to operate independently. Congress can also bring the Fed under closer control by the executive branch. Currently, the Fed tends to operate according to central banking best practices. A balanced approach designed to reign in volatility and allow a more gentle stimulus to move economy forward.
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